Mastercard has announced a significant expansion of its cybersecurity services through an agreement to acquire Recorded Future, a leading global threat intelligence company. The acquisition, valued at $2.65 billion, aims to enhance Mastercard’s ability to secure the digital economy, particularly within the payments ecosystem.
Recorded Future, recognized as the world’s largest threat intelligence company, serves over 1,900 clients across 75 countries, including governments from 45 nations and more than half of the Fortune 100 companies. This acquisition underscores the growing need for comprehensive cyber defense strategies as cybercrime costs are projected to reach $9.2 trillion globally in 2024, according to Statista.
Integrating Advanced Threat Intelligence
Recorded Future specializes in providing real-time visibility into potential cyber threats by analyzing vast data sources. This capability, combined with its use of artificial intelligence, will enhance Mastercard’s existing services in identity verification, fraud prevention, and real-time decision-making. The integration promises to deliver expanded threat intelligence capabilities to Mastercard’s network of merchants and financial institutions.
Craig Vosburg, Chief Services Officer at Mastercard, emphasized the importance of trust in digital transactions, stating, “Recorded Future adds to how we deliver greater peace of mind before, during, and after the payment transaction.”
Synergies and Opportunities
Both Mastercard and Recorded Future leverage AI to analyze billions of data points, identifying potential threats and protecting businesses and consumers. The collaboration is expected to foster innovation and enhance cybersecurity practices, reinforcing Mastercard’s reputation as a trusted brand.
Christopher Ahlberg, CEO of Recorded Future, expressed optimism about the partnership: “By joining Mastercard, we see an opportunity to help more businesses and governments realize their full potential and enable everyone to feel safer in their daily lives.”
The acquisition is anticipated to close by the first quarter of 2025, subject to regulatory approvals and customary closing conditions. The partnership is expected to enhance product innovation and expand Recorded Future’s reach through Mastercard’s extensive global network.
This announcement includes forward-looking statements, which are subject to risks and uncertainties. Factors such as regulatory approvals and market conditions could affect the completion and impact of the acquisition. Mastercard advises caution in placing undue reliance on these statements, as they reflect expectations as of the announcement date.